FTC: Dec 2007 Exam Tips (P4, P5, P6, P7)

P4

Following are the Exam tips for P4 Advanced Financial Managment that are likely to appear in Dec 2007 Attempt.

• Business valuation through acquisitions
• Foreign exchange hedging
• Investment appraisal and risk
• Cost of capital and sources of finance
• Advantages and disadvantages of listing and corporate objectives

P5

Following are the Exam tips for P5 Advance Performance Managment that are likely to appear in Dec 2007 Attempt.

• Corporate failure
• Performance improvement strategies
• Value-based management approaches
• Environmental management accounting
• The changing role of the management accountant in today’s business environment

P6
Following are the Exam Tips by FTC Kaplan that are likely to apper in December 2007 sitting of P6 Advanced Taxation.

• Corporation tax including IBA, loss relief (S393A), group and consortium relief, group gains and VAT.
• Overseas aspects of corporation tax including controlled foreign companies and transfer pricing.
• CGT vs IHT for lifetime gifts
• Employed vs self-employed (IT and NICs)
• Badges of trade (IT vs CGT)
• Employee vs partner (IT and NICs)
• Sole trader/partnership vs company (IT, NICs and Corp. Tax)
• Extraction of funds from company: salary vs dividend (IT, NICs, Corp. Tax)
• Incorporation (IT, NICs, VAT, CGT), perhaps with incorporation relief vs gift relief
• Comparison of employment packages and benefits (eg. cash vs car, share options vs bonus)
• Corporation tax – disposal of business: sale of shares vs sale of assets
• Property business profits including conditions for FHL and the advantages.
• Close companies – maybe a letter on this.
• VAT – cash accounting scheme, annual accounting scheme, due date for registration, partial exemption for VAT
• Financial planning – sources of finance, lease versus buy, investments including EIS vs VCT, the Financial
• Services and Markets Act 2000, pensions
• Ethics

P7

Following are the Exam tips for P7 Advanced Tax and Assurance that are likely to appear in Dec 2007 Attempt.

• Audit risk assessment and management
• Matters and evidence
• Professional conduct and ethics
• Reporting
• Assurance Services – CDD